ABM Company uses two departments to produce a product. The following data were taken from the books for the month of January 2012 Department 1 Department 2 Units: Started 60,000 40,000 Completed and transferred 30,000 In Process end 20,000 10,000 Stage of completion 75% 80% Costs: Materials P480,000 P245,000 Labor 330,000 190,000 Factory Overhead 220,000 114,000 Department 1- all materials added at the beginning of the process. Department 2- 50% of the materials are added at the beginning of the process, remaining 50% added at the end of the process. Required: Cost of Production report